BTC/USDT : Bullish or Bearish ?

XBTUSD.P
Hello everyone 😃

As you can see #BTC just formed a S/R line which can be a potential line for #BTC to bounce above 50K and test 51K and 55K !
But also there is a chance to become rejected from above resistance and dive below 44K support..
So there will be multiple scenarios to discuss :

1️⃣ Bounce from the S/R line :
The 1st Scenario will play as an extreme bullish chart, Which will lead #BTC above 50K to retest 55K level or higher.
If next 3 daily candles closed above this line, Then it means that market maker are searching for a 8H bounce above 50K resistance..
How ever there will be a chance for a possible stop-hunt below this line and FIB level for further advantage take on Exchange liquidity !


2️⃣ Rejects below the S/R and bounce from main support zone :
The 2nd possible scenario will be a rejection below S/R level and a dive below 47K level to retest the main support here which is located at ~44K.
There is a chance for #BTC to form a inverse H&S with a fake bullish free drive ( Currently forming ), Which is going to change the weak hands quickly into bearish phase and denies to follow the track on three drive...
It's more difficult to draw all the possible paths but, It's the most possible direction after a retest on 44K zone; Also there will be a higher chance for #BTC to retest ATH after the retracement.
There will be more bids sets above 51K after a logical correction to take advantage above.
So there will be two scenarios above it :
- Rejects to bounce more and dive from ~56K resistance zone !
- Engulf $58150 for further growth and retest ATH or even break it !


3️⃣ Rejects below FIB's 50% level and become bearish again :
The last possible scenario will turn into bears favor, If #BTC rejects to bounce after a retest on 44K, Then there will be a chance for it to dive below MA200 ( LOW source ) and FIB's 50% level.
Have to mention that the EQ line is higher on other exchanges; That's why we use BITMex's chart, It have more quality to analyze on lines and points !
There is a triple daily divergence which is lasted for at-least 17% on scale, This can be a reason to retest 37K level after activation... ( Below EQ ( FIB's 50% level ( $ 42781.0 )))


These are my directions for #BTC and all of them have personalized trigger, So it won't be hard to manage the risks ahead !
How am I playing this?

-> Above EQ in red and the recent S/R flip: Expecting the next range level to get tagged: 51.5k.
Should we continue to push, the next target after that is 56k.

-> Lose the recent S/R flip = warning sign.
Lose the EQ (red) and I think we start a larger correction.

🔴 The levels that I mentioned are extremely important !
Try to mention them in your charts...



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@Helical_Trades